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20121121
20121129
Search Results 0 to 21 of about 22 (some duplicates have been removed)
PBS
Nov 22, 2012 6:30pm PST
. >> tom: i'm tom hudson. massive spending cuts and tax hikes are set to hit the u.s. economy on january first. by most estimates if we go over the cliff, the u.s. economy will plunge into recession. >> susie: we look at the impact of the coming cliff and whether congress and the white house can strike a deal. >> tom: that and more tonight on n.b.r.! it was the chairman of the federal reserve ben bernanke who first called it a fiscal cliff. he described the coming automatic cuts in government spending and increases in taxes as, quote, "a massive fiscal cliff," end quote. here's what he was describing: on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. the congressional budget office and others warn going over the cliff will send the economy into a recession in the first half of next year. it was congress and the white house that set the deadline in hopes of forcing each other to c
PBS
Nov 20, 2012 4:30pm PST
for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. > uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. >> susie: wall street and business leaders were pleased that bernanke was talking tough. and they said the fed's role in the fiscal cliff negotiations is to communicate. >> tell the world and the individuals in the political establishment that they have to help get their act together or we have a problem, and that notion of preaching from the pulpit that he has is very fundamental. >> susie: is there another role or more of a ro
PBS
Nov 23, 2012 4:30pm PST
. and as erika miller explains, the event highlights the importance of small businesses to the nation's economy. >> reporter: tomorrow is the most important sales day of the year for pam nelson, co-owner of butter lane bakery in manhattan. >> it's our biggest day of the year. valentine's day used to be our biggest day of the year. now it is, by far, small business saturday. >> reporter: last year, sales quadrupled the saturday after thanksgiving. this year, she's hoping for even bigger gains. todd and leisl gibson are also hoping for a surge in orders tomorrow. the husband and wife team own a craft products business called leisl and company. small business saturday was also their biggest sales day last year. >> that one saturday, we did about 20 times our typical order volume for a regular saturday. >> reporter: special promotions and marketing clearly help drive sales. but the firms say customers also like supporting business owners they know. >> they like the fact that they feel like they know leisl. and they know todd. and they see pictures of our daughter. and they know when they buy patter
PBS
Nov 27, 2012 4:30pm PST
back on its feet, it involves finding a way to help greece's economy actually return to growth. while some of the terms of the deals were a little more favorable than many had feared, at the end of the day, you have to find a way to help these economies grow. that probably means pausing some of that austerity. >> susie: you talk about it being a favorable deal, and you picture that other troubled companies in europe are saying, i want a deal just like greece got. what does that mean for the european economic recovery? >> i think it certainly complicates things a little bit. there is clearly an issue of moral hazard. many other countries may look to the deal that greece got and say, hey, maybe i can get a similar-type deal. in the end, when we think about what is plaguing personal europe, a lot of it has to do with austerity which has been forced on the economies, which are really, really depressed, and pushes them deeper into the hole. part of what needs to be done moving forward is pausing some of that austerity. you can't go to a country in a very bad recession, and tell them to inc
PBS
Nov 26, 2012 4:30pm PST
the fiscal cliff could cost the economy, the equivalent of four times what shoppers spent over black friday weekend. >> tom: i'm tom hudson. it's cyber monday, and shoppers are online, and spending; they'll shell out an estimated $1.5 billion online today. >> susie: and change comes to the nation's top securities regulator: mary schapiro is stepping down. we look at what's next for the securities and exchange commission, and its new leader. >> tom: that and more tonight on "n.b.r."! >> susie: americans were back at work today after a long holiday weekend, but returned to the same worries about the fiscal cliff. and a new report from the white house added to the worries, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform. darren gersh explains. >> repor
PBS
Nov 21, 2012 4:30pm PST
of something, you reduce taxes on it. if you want less of something, you tax it more. in our economy right now, with a lot of money sitting idle on the sidelines, and a lot of people unemployed, the last thing we want to do is, you know, increase taxes on investments which will, therefore, result in less investments and less jobs. >> tom: we have more with lew hay tomorrow on our thanksgiving special, "looking at the fiscal cliff." >> susie: the thanksgiving holiday marks one of the busiest travel times of the year, and airlines are expected to have a blockbuster weekend. they could use it. the airlines have struggled to find profits over the past decade. sylvia hall reports. >> reporter: it's one of the busiest days of the year for airlines, as people jet across the country to and from their holiday destinations. the airlines expect to fill a total of 24 million seats between today and sunday, according to airlines for america. that's an average of 2.5 million seats filled each day, up by a quarter of a million from last year. >> this year so far, the average profit point for every passenger
PBS
Nov 26, 2012 7:00pm PST
, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform. darren gersh explains. >> reporter: the big money in entitlements is in health care, and that means any grand bargain to avoid the fiscal cliff will slice away at one of the nation's most popular programs. >> medicare is clearly in the gunsights. >> reporter: it's possible congress and the president could agree to save $300 to $400 billion from medicare by cutting fees for doctors and hospitals. but analysts worry slashing payments won't make the health care system more efficient. >> this is not really a way to structurally change medicare and if you don't change the underlying incentives, you don't get long-term savings. >> reporter: progressives at the center for american progress say the
Search Results 0 to 21 of about 22 (some duplicates have been removed)